The finalist for the position of Paso Robles police chief has withdrawn his candidacy, the Office of the Mayor announced Thursday.

According to a press release, Manny Guaderrama cited personal and financial reasons, including his wife having to shut down her business. According to the city, those reasons are also related to compensation. Guaderrama is currently a captain with the San Diego Police Department.

Mayor Duane Picanco said the city will continue to search for the right person.

"We are certainly disappointed, but we will now focus on restarting the search process, and making sure our police department gets the support they need," Picanco said.

"This occasionally happens but we remain confident in our ability to find a great police chief for the City of Paso Robles," said Bill Avery, President of Avery & Associates.

The new search is expected to take 5 months. Acting Police Chief Robert Burton has agreed to continue to lead the department.

In an email sent to KSBY, Picanco said he is confident the city will rally behind the department.

"We are all anxious to leave behind the struggles of the recession and the turbulence of 2012. I think that 2013 will be an opportunity to 'reboot,' to restart. Over the past year, the Police Department has successfully maintained community safety despite the many distractions, and strengthened department staffing with both seasoned and new officers. In fact, nearly one-third of the force is new to Paso Robles. These staff bring with them diverse experiences and perspectives that, added to the insights and community awareness of long-term Paso Robles officers, establish the capacity to rebuild. With Captain Burton's command experience, we can find new and better ways to protect and serve," Picanco said.

Former Paso Robles police chief Lisa Solomon stepped down in March after several complaints were made against her by officers.

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